TD Cowen Lowers FedEx (NYSE:FDX) Price Target to $328.00

FedEx (NYSE:FDX) had its target price decreased by research analysts at TD Cowen from $334.00 to $328.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s target price suggests a potential upside of 9.19% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. Argus raised their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Evercore ISI lowered their price objective on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Raymond James cut their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $311.63.

FedEx Trading Up 0.7 %

Shares of FDX stock opened at $300.39 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a fifty day moving average of $293.32 and a 200-day moving average of $274.80. FedEx has a 52-week low of $224.69 and a 52-week high of $313.84. The stock has a market cap of $73.92 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company posted $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 over the last ninety days. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of institutional investors have recently made changes to their positions in FDX. Capital International Investors boosted its position in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Sentry LLC purchased a new position in shares of FedEx in the 4th quarter valued at approximately $307,007,000. Vanguard Group Inc. boosted its position in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Putnam Investments LLC grew its stake in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. raised its holdings in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.